Yankees Sell Minority Share of the Team

In a move that came out of nowhere, the New York Yankees apparently sold a minority share in the team to a former oil trader Ray Bartoszek, according to Mike Ozanian of Forbes.

Bartoszek was involved in trying to buy a piece of the Mets earlier in the year, but backed out when the team refused to include a piece of SportsNet New York. So he instead purchased a small piece of the Yankees from another minority investor.

This will have no immediate effect on the team as the front office power structure remains the same. However, there has been a feeling since Hal and Hank Steinbrenner took over that it was only a matter of time before they sell their shares in the team and move on. Hopefully this is not a sign of more changes to come.

No word on how much Bartoszek paid for his share of the team or from whom he bought it from, but Forbes did say that he valued the Yankees at $1.7 billion overall. The deal includes a piece of the YES Network too.

2 Responses to Yankees Sell Minority Share of the Team

Well things have changed quite a bit since that beauty of a quote was said. The Yankees minority owners still have no say in how the team is run, but at least they don't have to put up with Big George anymore. Also, the Yankees never turned a profit from the 70's into the 90's. Only once the YES Network came about did they actually start making money instead of just spending it. So this guy, unlike the minority owners that worked with George, is actually going to see some profit with this.